ATCO Properties & Management announced today that Caudalie Inc., a French skincare company, is establishing its new U.S. headquarters at 381 Park Avenue South in the heart of Manhattan’s Midtown South office district.
Caudalie relocated from its offices at 70 West 36th Street to a full floor at 381 Park Avenue earlier this month. The 14,000-square-foot lease runs for ten years and four months.
Founded in Bordeaux in 1995 by Mathilde Thomas and her husband Bertrand Thomas, Caudalie specializes in natural skincare products that harness grape and grapevine extracts as well as Vinotherapie treatments and spas.
“We are thrilled by Caudalie’s selection of 381 Park Avenue South for their new U.S. headquarters,” said Kate Hemmerdinger Goodman, co-president, ATCO Properties & Management. “The bespoke environment we have cultivated here along with its dynamic Midtown South location, make it the perfect spot for a company that prides itself on the highest-quality products and services.”
Caudalie further extends the 17-story building’s recent leasing momentum. In November, ATCO announced four leasing transactions totaling 8,444 square feet with Sepp Leaf Products, Inc., Valerio Architects, PreZenDental PLLC and Breakaway Communications, Inc.
Jonathan Moss of M&M Retail Luxury Consulting Inc. represented the tenant and Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers International NY LLC represented building ownership. The asking rent was $69 per square foot.
381 Park Avenue South was built in the early 1900’s and offers sunny exposures and flexible floorplates. Boasting 228,000 square feet of office space, the boutique property sits just steps from Madison Square Park and several subway lines, including the N, Q, R and 6 trains.
Other prominent office tenants in the building include FGS Design LLC, Two Sticks Inc., EVOS, ListenFirst Media and the Stephen B. Jacobs Group. Famed bakery and restaurant Sarabeth’s Kitchen is located at the base of 381 Park Avenue South.
ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on value-add opportunities in urban locations. We seek to improve people’s lives by creating places that they genuinely want to work, play, or live, and by doing our work with a long-term perspective.
Through eight decades and four generations, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City and also in select markets we target. ATCO presently owns and manages more than 20 buildings ranging from high-rise office and residential towers to retail properties, from one-story industrial structures to high tech flex buildings. The portfolio of New York City properties includes: 555 Fifth Avenue, 40 Central Park South, 41 West 58th Street, 630 Third Avenue, 381 and 373 Park Avenue South. Nationally, the company owns properties in Austin, Texas; Chapel Hill and Charlotte, North Carolina; Indianapolis, Indiana; Darien, Stamford and Westport, Connecticut; Baltimore, Maryland; and Orlando, Florida. Internationally, ATCO has investments in seven European countries.